Dubai gold price goes past Dh500 again: Why is it back up again?

Dubai gold rates for 24K now at to Dh501as traders lift December interest rate-cut bets

Last updated: November 26, 2025 | 17:16

Nivetha Dayanand, Assistant Business Editor and Justin Varghese, Your Money Editor

2 MIN READ

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Global bullion held near $4,165 an ounce in Asian hours.

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Dubai: Dubai’s gold prices moved higher again on Wednesday, with the 24K rate soaring past Dh500 after several sessions of tight, range-bound trading. The 22K category also firmed to Dh464.25.

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The shift reflects renewed momentum in global bullion markets as traders raise expectations of an interest-rate cut at the US Federal Reserve’s December meeting. (Check latest UAE gold prices here, alongside prices in Saudi Arabia, Oman, Qatar, Bahrain, Kuwait, and India.)

Narrow range through November

The month has been defined by one of the tightest trading bands seen this year. Prices briefly touched Dh504.75 for 24K on November 12 before easing on softer global cues. The monthly low came on November 4, when 24K fell to Dh475.25 following a retreat from October’s record levels.

Global bullion held near $4,159 an ounce on Wednesday. The metal ended Tuesday almost unchanged, although a second day of dollar weakness supported fresh buying. A softer US currency typically makes gold more affordable for overseas holders.

Rate-cut expectations drive sentiment

Expectations of a December rate cut picked up after delayed economic data showed the US consumer picture losing momentum. Retail sales in September rose only modestly, while consumer confidence posted its sharpest decline since April.

Reinforcing that shift, the likely frontrunner to be the next Fed chair, White House National Economic Council Director Kevin Hassett, is widely seen as aligned with President Donald Trump’s preference for lower borrowing costs.

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Gold often gains when rates fall, since it carries no yield. The metal has now consolidated well above the $4,000 mark after retreating from last month’s peak above $4,380 an ounce.

Standout year for bullion

Despite the recent cooling, gold remains on track for its strongest annual showing since 1979. Prices have risen more than 55% this year, supported by central-bank buying and sustained retail demand driven by what many investors describe as the “debasement trade,” where capital shifts away from sovereign bonds and currencies into hard assets.

Nivetha DayanandAssistant Business Editor

Nivetha Dayanand is Assistant Business Editor at Gulf News, covering aviation, financial markets and commodities. A business and financial journalist with a strong interest in multimedia storytelling, she regularly takes complex financial and economic subjects beyond the written word, producing explainer videos that make them easier for a wider audience to understand. Nivetha has interviewed senior policymakers, business leaders and global financial figures both on and off camera. Her past guests include UAE Minister of Economy and Tourism Abdulla bin Touq Al Marri, Khaled bin Alwaleed Al Saud, a member of the House of Saud and the founder and CEO of KBW Ventures, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund and Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu. She has also hosted and moderated panels, conferences and awards shows, bringing her newsroom experience to live conversations on business, finance and the economy. An Erasmus Mundus journalism alum, Nivetha is drawn to stories that affect people directly and to reporting that gives a platform to voices that might otherwise go unheard. She was among the first journalists to speak to Petrofac employees in the UAE about unpaid salaries, broke the news of the planned demolition of Dubai’s well-known “Toyota Building”, and helped set the record straight on widely circulated claims that a giant replica of the Moon was coming to Dubai. More recently, her exclusive interview with EDGE Group CEO Hamad Al Marar revealed how the UAE-based defence group deployed its systems along the country’s shore border and established a geofence around the UAE within 48 hours of the February 28 escalation. Prior to joining Gulf News, Nivetha worked at ITP Media, where she helped launch Finance Middle East, a new publication covering the region’s financial sector. Her role spanned reporting and editing, video production, interviews and events. Across print, digital, and video, she focuses on finding the people behind business stories and explaining why those stories matter to the audience reading or watching them.